JP Morgan Asset Management has launched JP Morgan Private Capital to offer customised solutions for early and growth stage companies across the capital structure.
The group comprises of a new growth equity investment arm and an existing private debt business.
It will be mainly targeted at institutional and HNW clients and have the ability to invest the firm’s capital along with investors.
JP Morgan Asset & Wealth Management CEO Mary Erdoes said: “JP Morgan Private Capital will harness JPMorgan Chase’s unparalleled scale, network and resources to deliver a best-in-class growth equity and private debt investment platform.
“By combining our debt and equity capabilities, we are ideally positioned to help companies and clients from around the globe access liquidity and investment opportunities across capital markets.”
JP Morgan Private Capital will be led by former JP Morgan Wealth Management Solutions CEO Brian Carlin.
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By GlobalDataCarlin will be supported by Rick Smith as chairman of the group, and Meg McClellan as the head of Private Debt.
In addition, the firm named Christopher Dawe as a managing partner to lead the technology and consumer growth equity business.
Dawe joins from Goldman Sachs, where he spent 15 years investing in private companies. He also served as the co-head of the Venture Capital and Growth Equity business within Goldman Sachs Investment Partners.
Osei Horne will join the group as the managing partner to lead investments across industries with an initial focus on climate action and inclusive economic growth.
The investment platform will be part of JP Morgan Asset Management’s $168bn Global Alternatives franchise.
The platform includes Private Debt business which currently oversees $15bn in assets across corporate and asset-based lending strategies.
JP Morgan Asset Management head of Global Alternatives Anton Pil said: “The launch of JP Morgan Private Capital reflects the increasing client demand for alternative asset classes and our focus on providing clients with new opportunities to enhance portfolio returns through private markets.
“We look forward to continuing to expand our capabilities across the Global Alternatives franchise in the coming months to meet client needs and seize market opportunities.”